Devon Energy Corporation $DVN Stock: Pekin Hardy Strauss Inc. Trims Holdings

Pekin Hardy Strauss Inc. trimmed its position in Devon Energy Corporation (NYSE:DVN) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,868 shares of the energy company’s stock after selling 18,569 shares during the period. Devon Energy makes up approximately 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 18th biggest position. Pekin Hardy Strauss Inc.’s holdings in Devon Energy were worth $10,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Premier Financial Group acquired a new stake in Devon Energy in the second quarter valued at approximately $25,000. Financial Management Professionals Inc. increased its holdings in shares of Devon Energy by 119.0% during the third quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock valued at $27,000 after acquiring an additional 313 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Devon Energy during the second quarter worth approximately $28,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in shares of Devon Energy during the second quarter worth approximately $29,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

Shares of DVN opened at $42.85 on Friday. The firm has a market capitalization of $47.13 billion, a P/E ratio of 10.18, a P/E/G ratio of 1.15 and a beta of 0.43. Devon Energy Corporation has a 52 week low of $32.06 and a 52 week high of $52.71. The stock has a 50 day moving average price of $48.74 and a two-hundred day moving average price of $46.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72.

Devon Energy (NYSE:DVN) last posted its earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.57 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The company’s revenue for the quarter was up 66.5% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. Equities analysts forecast that Devon Energy Corporation will post 5.49 earnings per share for the current fiscal year.

Key Headlines Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Devon earned $1.42 per share, above several analysts’ estimates and up from $1.04 a year earlier. The company reported $6.86 billion in revenue, with year-over-year growth also noted. Reuters report on Devon’s Q3 results
• Neutral Sentiment: Devon published its fourth-quarter outlook and an initial view of 2027 alongside the results, but the supplied report does not provide the guidance figures investors will use to assess the outlook. Devon’s Q3 results announcement
• Negative Sentiment: Revenue expectations were mixed across reports: some cited a beat, while another reported sales below consensus, despite revenue of $6.86 billion and strong year-over-year growth. That discrepancy may have tempered the reaction to the earnings beat. Report on Devon’s Q3 sales expectations

Insider Buying and Selling at Devon Energy

In related news, CEO Clay M. Gaspar acquired 3,913 shares of the company’s stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the purchase, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction on Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the transaction, the executive vice president directly owned 72,720 shares in the company, valued at $3,705,084. This represents a 8.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DVN shares. Morgan Stanley lifted their price target on shares of Devon Energy from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Mizuho decreased their price target on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Argus restated a “buy” rating and set a $45.85 price objective on shares of Devon Energy in a report on Monday, August 17th. Susquehanna upped their price objective on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.